According to Reuters, citing people familiar with the matter, German sportswear group adidas has drawn up a shortlist of bidders for its brand Reebok. In addition to U.S. shoe manufacturer Wolverine World Wide and U.S. brand management company ABG, it also includes private equity Funds Advent International, CVC Capital Partners, Sycamore Partners and Cerberus Capital Management, as well as Anta Sports, which industry insiders had previously speculated, were not included. It is reported that candidate bidders need to submit their final bids in August.
Public information shows that Wolverine Worldwide Group was founded in 1883 and is one of the oldest shoe-making companies in the United States. There are brands such as Wolflin, CAT, Hush Puppies, Merrell, and One Hundred Miles.
The group is currently also the global footwear licensee of the American motorcycle manufacturer Harley-Davidson, and its business covers more than 200 countries around the world.
The main brand Wolverine was founded in 1914, specializing in the design and production of shoes and boots suitable for outdoor work and sports.
The Wolverine Group, whose basic product is work boots, also owns the largest pigskin tannery in the United States, and 18% of its output is used for its shoes. In addition, officials from Wolverine Worldwide learned that the American outdoor clothing and footwear group Wolverine Worldwide expects revenue in the second quarter of this year to exceed the same period in 2019, and reiterated its full-year performance forecast to be between US$2.24 billion and US$2.3 billion. It is understood that Wolverine Worldwide’s revenue increased by 16.3% to US$510.7 million in the first quarter of this year.
Reebok is a world-famous sports and fitness brand. It once had an irreplaceable position in the sports field, and its sales volume once exceeded Nike. For many consumers born in the 1980s, owning a pair of Reebok shoes is undoubtedly a good time worth remembering.
As a brand that has been established for more than a century, Reebok has had high-profile moments such as creating the world’s first pair of spikes and the first pair of pump-up shoes. In the 1990s, Reebok’s development slowed down, but it is still the third largest sports brand in the world after Nike and Adidas.
Adidas spent huge sums of money to acquire Reebok in 2006, and dreamed of overtaking Nike after joining forces. However, things went against expectations and Reebok’s development went from bad to worse. With the outbreak of the epidemic last year, Reebok finally became a thing of yesterday, which also made Adidas decide to sell it in tears. This acquisition, which was originally thought to be 1+1>2, caused many people to criticize Adidas’ development strategy for Reebok.
In response to the fact that Adidas is about to sell off Reebok, many foreign institutions and individuals have expressed their intention to participate. At present, the German sportswear group adidas has drawn up a shortlist of bidders for its brand Reebok. In addition to the American shoe manufacturer Wolverine World Wide and the American brand management company ABG, it also includes private equity funds Advent International and CVC Capital Partners. , Sycamore Partners and Cerberus Capital Management.
It is worth noting that Anta Sports, which was previously speculated by industry insiders, is not included. So who will Reebok win in the end? Let’s stay tuned. </p
